Did Miss El Salvador cause the Bitcoin price to spike last night?

[autumnleaf]

Alejandra Guajardo, who represented El Salvador at Miss Universe 71, wore a costume with a Bitcoin theme. El Salvador is known as the first nation to legalize Bitcoin as a form of payment. Did Miss El Salvador cause the Bitcoin price to spike last night?



They just demonstrate to the rest of the world that they are prepared to move beyond simply embracing the cryptocurrency area by changing the way we perceive a cashless society. Adoption is a real phenomenon that won't end there.

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[hd49728]

It is not a Bitcoin adoption and Bitcoin did not pump because of this show. After months of accumulation and with a trend of bullish from stocks, gold in early 2023, Bitcoin joined the trend with its pump recent hours.

Adding a Bitcoin icon to her costume is not a Bitcoin adoption. It is a marketing noise, not adoption.

Adoption is when there is an agreement between buyer and seller to use Bitcoin as an exchange mean for their trade. The girl did not make any trade with her costume in the show.

She could do it by her idea but she could do it with a request from her President Nayib Bukele who strongly loves and supports Bitcoin. He put his nation to a bet with Bitcoin investment, Bitcoin bond (Volcano bond) and I am not surprised if the Venezuela Miss got a request from him.

[Poker Player]

It is not a Bitcoin adoption and Bitcoin did not pump because of this show.

I agree. It is difficult to know what causes a price spike because there are so many players interacting in the market. I think a price recovery is within the normal range for this 2023 once most of the leverage garbage is gone and we are getting closer to halving, although there is still more to come.

The Miss promoting Bitcoin is fine with me, as is anything that helps popularize it, but I think it is extremely unlikely to have anything to do with the price rise.

[pooya87]

I doubt that fat guys in their underpants watching Miss Whatever have enough money or even care enough to buy bitcoin, enough to cause a price rise

Besides, you are forgetting that it was not "$1000 in last 12 hours", it has been $2600 or 15% rise in the past 10 days. In other words this is an upward trend that has nothing to do with such small news like this but rather a market reversal that may or may not be temporary (depends on whether it breaks $20k or not).

[Kakmakr]

Well, as we know.... Bitcoin's price are not just determined by 1 event... but a combination of events in a global context. Yes, a lot of the people watching from El Salvador must have seen that and it might have sparked some marketing affect, but it is insignificant in a global context.

I think we are in a slow recovery phase, after all the spending happening over the Holiday season ....and people are returning from their holiday and trading again as usual. (They made profits during the year..... rewarded themselves with a good holiday.. and now they are back at it again.... working to save up for the next holiday) 

[mk4]

Doubt it. Bitcoin has pretty much been a household name for a while now. A lady wearing a bitcoin-themed dress wouldn't suddenly make people say "omg bitcoin I'm buying now!".

[yazher]

It's because some investors are starting to enter the market again and it seems like the last lower price is before that spike. Now we will gonna observe what will gonna happen next because if my speculation is right, this is the start of the price recovery. Still, we need to be careful on bull trap and we need to hold our horses because this hype might be the cause for other investors to backout.

[Woodrose]

Snip

Nope, Lots of firms and celebrities are promiting bitcoin but it doesn't cause a macro movement to the price. Not unless Elon Musk will buy bitcoins and I think that's a different story.

Well, I think the Consumer Price Index news released yesterday triggered the market. It went 6.5% from 7.1% last November. This is the highest BTC price since it dropped last November due to FTX news.

Well, let's see if it will break the 19.1k line and experience some major restest to enter the mini bull run this 2023.

Reference :
https://qcp.capital/market-updates/market-update-cpi-preview-12-jan-2023/

[davis196]

I guess that Bitcoin adoption is the only thing El Salvador is famous for. That's why Miss El Salvador is holding a Bitcoin sign.
However, this has nothing to do with the BTC price. It's like saying that Bitcoin price went up because today is Friday the 13th.
We can see some small price pumps on the Bitcoin charts, which means that Bitcoin is still alive and kicking and the crypto winter might have a few small bull waves here and there. Anyway, FUD news are coming from the big crypto company Nexo being accused for money laundering, terrorist funding and operating without a license in the USA. Maybe this FUD will cause another short term BTC price drop.
Will Nexo become the new FTX? We will have to wait and see.

[bittraffic]

She didn't cause the pump but certainly, she promoted Bitcoin.  
The inflation data reported recently made the pump of BTC says analysts so there must be truth to it. But she did a good timing for doing this while BTC is going up.

They really tell the world that they are the first to have adopted BTC as a legal tender and made BTC part of their culture as this is supposed to be a cultural dress-up.

[DdmrDdmr]

<…>

Certainly not. All it caused is for the crypto related media to take the image out for a spin and splash a bit of accompanying text, and for bitcoin haters to have an excuse to fill the social networks with criticisms towards the dress used in the National Costume catwalk (though representing history of the country, is not typical in the traditional sense though).

In light of the criticisms, dress designer had to step forward to defend the idea, claiming it was based on history, with no political claims.

[Woodie]

Depending on the audience and the numbers that were able to catch a glimpse of this program

its very much possible, and I like how the costume was well represented!

She didn't cause the pump but certainly, she promoted Bitcoin.  
The inflation data reported recently made the pump of BTC says analysts so there must be truth to it. But she did a good timing for doing this while BTC is going up.

It is possible that both happened coincidentally and if it's the promotional side.. the effects will echo over for sometime.

Besides the world of bitcoin needs all kinds of marketing however small the stage its a win for us all,thank you El Salvador for doing it again.

[Zanab247]

Alejandra Guajardo, who represented El Salvador at Miss Universe 71, wore a costume with a Bitcoin theme. El Salvador is known as the first nation to legalize Bitcoin as a form of payment. Did Miss El Salvador cause the Bitcoin price to spike last night?

No, miss El Salvador cannot cause the price of Bitcoin to pump because, Bitcoin is a decentralized currency that is not control by Mr or miss in any country of the world, Despite, El Salvador is the first country that made Bitcoin legalized doesn't mean they have the power to control the price of Bitcoin or cryptocurrency in the country. I guess the price of Bitcoin and cryptocurrency just decided to pump in this period of Miss El Salvador celebration in the country.

[stompix]

Well, I think the Consumer Price Index news released yesterday triggered the market. It went 6.5% from 7.1% last November.

That's actually what caused the price rally, it started with the first numbers that pointed at inflation numbers going down and at the rumors the FED will stop hiking rates that aggressively and even stop it altogether by late autumn, the bumps coincide perfectly, always with the data release, every single time there was a swing in price depending on the news, be it bad or good.

The whole Miss Salvador won't move the markets one point, the recovery of 5 billion at least from FTX was far better news than everything e had lately.

[sunsilk]

There is nothing to do with Miss Universe, with her and with her outfit. It was just a complete coincidence that the market has pumped during his ramp with that gown having bitcoin as logo.

But many for sure have appreciated the effort of what Miss El Salvador and her team has did with the outfit. For sure that Bukele has suggested that to the panel and for the team that handles her.

Well, with the surge, it was just all about the normal cycle and nothing other than that.

[raybucks]

I think price spiked because inflation numbers are going down
It's difficult to find what causes spikes in btc price because when we try to find we discover too many events and get confused
so don't waste your time to find what does price spikes ,

[8rch7]

Excited outfit from Miss Universe Alejandra Guajardo by wearing Bitcoin, I don't think how smart his ideas when publishing about Bitcoin trough Miss Universe award. Many people will interested based on Miss Universe is popular edition around the world and million people watching outfit from El Savador Miss Universe.

I think with Miss Universe is the best place for advertising or promoting Bitcoin to many people around the world and have different culture, due El Savador adopted and legalizing with Bitcoin transaction, seems smart ideas with their Miss Universe Alejandra Guajardo wearing Bitcoin outfit.

[Artemis3]

Actually its a message. She is carrying the now defunct fiat on her back, representing the past, and even older than that cacao/cocoa which was a unit of monetary value at points in history. She carries Bitcoin with her hand, perhaps signaling the country's adoption and spreading the message.

So its like someone sponsoring a sports team and stamping a Bitcoin logo in their shirts. It may not be "adoption" but it is promotion and public awareness. Maybe it was Bukele's idea? Who knows, but it is great in my opinion. There are people watching who have not even asked what this Bitcoin is let alone learn that a country adopted it as legal tender (which was said by the announcer).

hd49728 Venezuela has no relation, it has the worst fiat of the world, and also the first and failed cbdc (Which was/is a State scam token), their leaderships cannot be worse compared. One puts an end to criminals while the other protects them. And there was some major scandal about Miss Venezuela that dissolved the organization locally or changed hands sometime ago so who knows how that ended (the old fashioned sex for favors).

[kryptqnick]

Oh wow, I would've missed this news without this thread, thanks! I don't follow pageants of any levels, but Miss Universe allegedly has 500 million viewers (according to Wikipedia), which is huge if even a part of this audience saw El Salvador's candidate with a giant Bitcoin. I don't know if that's the reason behind the jump, but it could be. In any case, it's a huge promo of Bitcoin for a potentially very fresh audience. I mean, it's not some tech event where most have already heard of Bitcoin before, and I don't think there's a big cross-section between the crypto community and beauty pageant audience, which opens a possibility of wider adoption.

[molsewid]

It is not a Bitcoin adoption and Bitcoin did not pump because of this show. After months of accumulation and with a trend of bullish from stocks, gold in early 2023, Bitcoin joined the trend with its pump recent hours.

Adding a Bitcoin icon to her costume is not a Bitcoin adoption. It is a marketing noise, not adoption.

Adoption is when there is an agreement between buyer and seller to use Bitcoin as an exchange mean for their trade. The girl did not make any trade with her costume in the show.

She could do it by her idea but she could do it with a request from her President Nayib Bukele who strongly loves and supports Bitcoin. He put his nation to a bet with Bitcoin investment, Bitcoin bond (Volcano bond) and I am not surprised if the Venezuela Miss got a request from him.

Yep, I believe that she just only shows that El Salvador has its own pride I mean among all other nations they are the first country who adopted it, maybe yes she promotes it as well or maybe she just shows when you say bitcoin one of the things you  will remember is El Salvador. The price of the bitcoin maybe affected because we slowly recovering our market now? or it is just another fake bullish.